Semitransparent texture makes some objects behind transparent in viewport
For the .blend you have attached, it seems that ticking "Transparency" option in the object's Display settings does the trick.

If you want to see outline of the selected object, you can enable Bounds in the same Display section.
Still there can be an issue with display multiple faces with the transparent texture stacked behind each other, then can try to tune User Preferences -> System -> OpenGL -> Clip Alpha value.